CRWV · Coreweave, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.08B | - | $1.36B | $395.37M | $188.68M | - | - |
| Cost of Revenue | $716.00M | - | $368.82M | $312.67M | $59.22M | - | - |
| Gross Profit | $1.36B | - | $995.85M | $82.70M | $129.46M | - | - |
| R&D | $104.00M | - | $14.00M | $12.00M | $9.00M | - | - |
| SG&A | $164.00M | - | $151.88M | $174.20M | $15.69M | - | - |
| Total Operating Expenses | $2.22B | - | $466.82M | $317.65M | $171.84M | - | - |
| D&A | $1.15B | - | $253.00M | $164.00M | $79.51M | - | - |
| Operating Income | ($144.00M) | - | $117.12M | $77.72M | $16.85M | - | - |
| Interest Expense | $427.00M | - | $102.33M | $256.16M | $40.50M | - | - |
| Income Tax | $84.00M | - | ($126.68M) | $47.77M | $15.40M | - | - |
| Net Income | ($740.00M) | - | ($110.12M) | ($323.02M) | ($129.25M) | - | - |
| EPS - Basic | ($1.40) | - | ($0.22) | ($1.62) | ($0.62) | - | - |
| EPS - Diluted | ($1.40) | - | ($0.22) | ($1.62) | ($0.62) | - | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.24B | $3.13B | $1.89B | $1.15B | $1.36B | $217.00M | $7.00M |
| Accounts Receivable | $2.12B | $3.17B | $1.66B | $1.93B | $416.53M | - | - |
| Inventory | - | - | - | - | - | - | - |
| Accounts Payable | $3.37B | $1.62B | $1.16B | $1.23B | $1.24B | - | - |
| Current Assets | $5.61B | $7.49B | $4.73B | $3.95B | $3.10B | - | - |
| Total Assets | $55.57B | $49.30B | $32.91B | $26.24B | $17.83B | - | - |
| Current Liabilities | $17.82B | $16.44B | $9.71B | $7.56B | $4.96B | - | - |
| Long-term Debt | $17.31B | $14.66B | $10.32B | $7.42B | $4.94B | - | - |
| Total Liabilities | $50.81B | $45.97B | $29.03B | $22.42B | $18.79B | - | - |
| Stockholders' Equity | $4.76B | $3.33B | $3.88B | $2.66B | ($715.55M) | - | ($11.00M) |
| Retained Earnings | ($3.38B) | ($2.64B) | ($2.19B) | ($2.08B) | ($1.79B) | - | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.98B | - | - | - | $2.04B | - | - |
| Investing Cash Flow | ($7.71B) | - | - | - | ($1.77B) | - | - |
| Financing Cash Flow | $3.91B | - | - | - | $919.50M | - | - |
| CapEx | $7.70B | - | - | - | $1.74B | - | - |
| Free Cash Flow | ($4.71B) | - | - | - | $297.10M | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|
| Profitability | |||||||
| Gross margin | 65.5% | - | 73.0% | 20.9% | 68.6% | - | - |
| Operating margin | -6.9% | - | 8.6% | 19.7% | 8.9% | - | - |
| EBITDA margin | 48.3% | - | 27.1% | 61.1% | 51.1% | - | - |
| Net margin | -35.6% | - | -8.1% | -81.7% | -68.5% | - | - |
| Free cash flow margin | -226.7% | - | - | - | 157.5% | - | - |
| FCF / Net income | 6.37 | - | - | - | -2.30 | - | - |
| R&D / Revenue | 5.0% | - | 1.0% | 3.0% | 4.8% | - | - |
| SG&A / Revenue | 7.9% | - | 11.1% | 44.1% | 8.3% | - | - |
| Effective tax rate | - | - | - | - | - | - | - |
| Return on assets | -1.3% | - | -0.3% | -1.2% | -0.7% | - | - |
| Return on equity | -15.5% | - | -2.8% | -12.2% | 18.1% | - | - |
| Return on invested capital | -0.5% | - | 0.7% | 0.6% | 0.3% | - | - |
| Liquidity | |||||||
| Current ratio | 0.31 | 0.46 | 0.49 | 0.52 | 0.63 | - | - |
| Quick ratio | 0.31 | 0.46 | 0.49 | 0.52 | 0.63 | - | - |
| Cash ratio | 0.13 | 0.19 | 0.19 | 0.15 | 0.27 | - | - |
| Leverage | |||||||
| Debt / Equity | 3.64 | 4.40 | 2.66 | 2.79 | -6.90 | - | - |
| Debt / Assets | 0.31 | 0.30 | 0.31 | 0.28 | 0.28 | - | - |
| Debt / EBITDA | 17.26 | - | 27.89 | 30.71 | 51.22 | - | - |
| Interest coverage | -0.3x | - | 1.1x | 0.3x | 0.4x | - | - |
| Equity multiplier | 11.68 | 14.78 | 8.49 | 9.87 | -24.92 | - | - |
| Liabilities / Assets | 0.91 | 0.93 | 0.88 | 0.85 | 1.05 | - | - |
| Efficiency | |||||||
| Asset turnover | 0.04 | - | 0.04 | 0.02 | 0.01 | - | - |
| Inventory turnover | - | - | - | - | - | - | - |
| Days sales outstanding | 372d | - | 444d | 1785d | 806d | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - |
| Days payable outstanding | 1718d | - | 1145d | 1432d | 7656d | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - |
| Valuation | |||||||
| P / E | - | - | - | - | - | - | - |
| P / B | 8.6x | - | 7.5x | 29.9x | - | - | - |
| P / S | 19.6x | - | 21.4x | 200.7x | 41.1x | - | - |
| EV / EBITDA | 55.7x | - | 101.8x | 354.2x | 117.6x | - | - |
| Growth | |||||||
| Revenue growth (YoY) | 1001.3% | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 952.0% | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | - | - | - |
| Net income growth (YoY) | -472.5% | - | - | - | - | - | - |
| EPS growth (YoY) | -125.8% | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$5.13B totalUS$4.80B · 93.6%
Non Us$330.00M · 6.4%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing CoreWeave against the 5 most active filers in the same SIC group.